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3.03.2010

Greenspan takes a holiday

We don't officially credit Greenspan's Body Count with overseas kills because Greenspan didn't have direct control of monetary policy in foreign countries. In those cases, he was more like Charles Manson, sending his devotees to the Tate house. He didn't get his own hands dirty but inspired star-struck foreign central bankers to emulate the Maestro.

And so it was with the case of Oliver Hayes, whose debt drove him to murder.

ANNE CORCORAN’S killer was being pursued by his credit union for more than €10,000 of bad debt, his murder trial has heard.

He had also paid nothing off his mortgage in almost two years when he decided to rob the 60-year-old widow.

Oliver Hayes (49), Clancool Terrace, Bandon, Co Cork, entered the witness box at the Central Criminal Court yesterday, where he said he was also under other financial pressure at the time.

“Some people were on to me a lot to get paid for things,” he said. “I had a lot of sleepless nights wondering where money was going to come from.” He said he decided to rob someone. “I made the wrong decision,” he said.

Foreign central bankers would be well-advised to refuse the Kool-Aid next time Greenspan or Bernanke come visiting.